Belarus' central bank to decide on refinancing rate on 20 June

MINSK, 17 May (BelTA) - The National Bank of Belarus will make a decision on the refinancing rate on 20 June, Deputy Chairman of the National Bank Dmitry Kalechits said on the sidelines of the 11th international conference “The economic growth of the Republic of Belarus: globalization, innovation, sustainability”, BelTA has learned.

When asked about when the National Bank plans to review the rate of refinancing, Dmitry Kalechits noted that now the bank is evaluating the economic conditions. “The board will convene for a session next week and will discuss the current state of the economy. Decision on the refinancing rate will be taken on 20 June taking into account the situation in the economy,” he said.

Dmitry Kalechits also commented on the inflation forecast for 2018. “In terms of inflation, we are ready to maintain the inflation within the forecast of 6%. Now we can see some increase in the rate of inflation, but given the tools and measures that we have taken together with the government, we have no basic doubts that we will keep the inflation within the projected parameters,” he said.

The refinancing rate in Belarus was reduced last time on 14 February 2018. Now it is 10.5%.

Inflation in Belarus was at 0.3% in April and 2.8% in January-April.

The 11th international conference “The economic growth of the Republic of Belarus: globalization, innovation, sustainability” is hosted by the Belarusian State Economic University and is dedicated to the 85th anniversary of the university. Attending the conference are more than 400 people.